Boeing Jumps After Job, Output Cuts Reveal Plan for Virus Era

By Julie Johnsson

April 29, 2020, 10:57 PM

Company to lower employment 10% with 15% drop in jetliner unit

Output of Dreamliner, 777 to fall; Max will come back slowly

Boeing Co. soared after executives outlined a road map to survive the worst downturn in aviation history, and assured investors that the company has the means to make it through. If all goes to plan, the aerospace titan will be generating cash again by next year.

The U.S. planemaker is shrinking its workforce by about 10%, or about 16,000 jobs, to conserve cash. Work will slow in its factories, with 787 Dreamliner output cut for a third time in successive quarters. Boeing expects to restart production of the grounded 737 Max this quarter at a gradual pace as key customers...